looking for people with Cleveland RE knowledge

7 Replies

Im looking for investors/people that have a strong knowledge of the Cleveland rental market who can help me with two of my rentals. 

Im having trouble renting a SFH in Parma Heights and one half of a duplex in Euclid OH. I should say my PM is having trouble renting them for me. Need opinions on what my properties should rent for and and ideas to improving my chances of getting them rented . Any input would be appreciated.

@Billy Maloney I have been in the Parma hts market for years, feel free to shoot me a message with your particulars and I can see if my properties are comparable.

Currently have some vacancies myself and it's the weather. Tenants don't want to be moving in this weather. It's snowing and cold. It might be new term to west coast investors but seasonality is true

@Federico Gutierrez  yah agree,  I know the season has a big part in it right now. I understand, I’m from Boston.  I did start marketing beginning of September though.    When do renters start coming out again March? 

@Billy Maloney   There is seasonality in the Cleveland market for sure and good renters get harder to find as it gets closer to the Holidays and its harder to get people to come and look when its cold & snowing....but if you've had your houses up for rent since September, something is wrong.  Just had the upper half of my two family in Lakewood go vacant at the end of November and I had a deposit from a well qualified new tenant by mid-December (not moving in til Feb 1st though).  I'd be happy to look at the details and point out anything that I see as a problem.....just shoot me a message.  

Originally posted by @Billy Maloney :

Im looking for investors/people that have a strong knowledge of the Cleveland rental market who can help me with two of my rentals. 

Im having trouble renting a SFH in Parma Heights and one half of a duplex in Euclid OH. I should say my PM is having trouble renting them for me. Need opinions on what my properties should rent for and and ideas to improving my chances of getting them rented . Any input would be appreciated.

 Winter doesn't help. Do you think they might be asking too much? Also, are they stagged with AMAZING photos? Photos really get people in the door.

If the units look nice and your rent is fair then I’d look at expanding your marketing for the units. Beyond that see if there is something next door or across the street that’s chasing people off. Barking dogs, broken down cars, crazy neighbors, crime, limited parking access, etc.
If you had interested parties do a nice follow up call and ask survey style if there was one thing that kept them from renting from you what would it be?
If all else fails maybe up your game a little by bumping the rent and include free basic internet or something like that?

Thanks @Michael Norris , @Don Petrasek Thank you guys.  I believe when i first listed parma it was definitely too high. I was naive and was hoping for more. Then lowered it a few time in Oct and i think got myself right into the winter holiday season.  I think my PM does a good job of management but there marketing is weak. They dont like to use craigslist for some legal reason.  I posted on craigslist myself yesterday and got some good leads. I am encouraging them to use it now. @Tom Ott at first there were not amazing photos for Parma and now we have good ones.  In Euclid i do not have good photos and I am on my PM about it now.  

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